Answer:
Step-by-step explanation:
An exponential function has a standard form of
where a is the initial value and b is the growth/decay rate in decimal form.
If the walk had an attendance of 500 the first year, that means that for us,
a = 500
If the attendance is expected to increase by 5% each year, then not only does b retain its initial attendance, it is added to by 5%: 100% + 5% = 105% or, in decimal form, 1.05
Our function, then, is
and we need to solve for the number of people, y, that will attend in year x = 10:
First raise 1.05 to the 10th power to get
y = 500(1.628894627) and then multiply those 2 numbers together to get
y = 814.4 or 814 people in the 10th year